Strengthening metals prices and significantly stronger-than-expected U.S. manufacturing data helped Canadian equities end the second consecutive session in the green territory. The S&P/TSX Composite Index rose by 52 points, or 0.2%, yesterday to settle at 21,708.
Despite continued weakness in industrial and consumer cyclical stocks, handsome gains in other market sectors like mining and utilities guided the TSX benchmark upward.
Top TSX Composite movers and active stocks
First Quantum Minerals (TSX:FM) jumped by about 9% to $16.09 per share, making it the top-performing TSX stock for the day. Earlier during the day, a Reuters report highlighted that the Vancouver-based copper miner’s prospects of reinstating its concession for the Cobre Panama mine are slim following Panama’s presidential elections.
The report noted that the local resistance remains strong against reopening First Quantum’s Cobre Panama mine, with major…
